Powerful, fully payroll-integrated retirement savings products bring "best in class" services together to create a comprehensive package that provides peace of mind to both you and your employees. ADP's retirement savings products offer:
- Timely and accurate record keeping
- Well-respected investment managers
- Professional enrollment services
- Complete employee communications
- Experienced trustee services
- Flexible prototype plan document
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Integrating Your Company's Retirement Plan with Your Payroll Can Save You Time, Money and Aggravation.
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ADP Retirement Services coordinates all the primary elements of the plan for you because the payroll system is linked electronically to the 401(k) record keeping system with financial information transmitted directly to the trust accounting system and transmitted directly to the investment managers.
Because the payroll and plan data processing systems are linked, our bundled solution offers advantages that go far beyond other plan:
- Eliminates unnecessary interim steps including reviewing and reconciling allocation reports and fund confirmation statements
- Eliminates monthly fees for allocation reports/tapes, wire transfers/checks, and overnight delivery charges
- Streamlines tasks with paperless processing for faster, more accurate data transfers
- Eliminates the aggravation of reconciling and problem-solving among several different organizations since you deal with only one vendor
ADP's Full-Service Retirement Savings Solution Includes...
Record keeping and Administration
As your plan record keeper, we maintain participants' records, change investment allocations, prepare quarterly participant statements, process disbursements, enroll new employees, and provide ongoing administrative services. You also receive monthly reports, which show all plan activity, both in hardcopy and through our top-rated Plan Sponsor Web site.
Investment Services
ADP has established a fund network and trading links with many well-recognized and respected investment management organizations to offer a broad range of options to your employees. These representative investment providers include:
- Fidelity Investments
- AIM Investments
- Oppenheimer Funds
- Janus
- Alliance Bernstein
- P IMCO Advisors
- Davis Funds
- MFS Investment Management
- T.Rowe Price
ADP Retirement Services has business alliances with some of the industry's leading investment providers to offer a variety of DC/401(k) programs. Our alliance partners include:
- Bank of America
- Goldman Sachs
- Merrill Lynch
- Morgan Stanley
- AIG SunAmerica
- Scudder
Trustee Services
The trustee is responsible for ownership and safekeeping of the plan assets and investing these assets as designated by the participants. Trusteeship provides an additional level of security for the participants and reduces the fiduciary liability of the company and its principals.
Employee Communications Support
- Printed and Audio-Visual Materials: clear and easy-to-understand communications that educate your employees about the importance of saving for retirement and explain how the retirement savings plans work.
- Enrollment Meetings: NASD Registered Implementation Specialists conduct in-person enrollment meetings and provide participants with professionally produced enrollment kits.
- Transactional Participant Internet and VRS: ADP's highly-rated participant Web site and 24-hour* toll-free Voice Response System enable participants to make the majority of their transactions directly, in addition to providing information about account balances, investment performance, loan modeling, etc.
Plan Document
ADP offers comprehensive IRS prototype plan documents. We'll work together to help you choose from among several options to customize a plan to meet your company's needs. If you choose to match your employees' contributions, you can select your company's contribution levels, matching contributions and vesting schedule.
Compliance Reporting/Testing
We help ensure that your plan complies with government regulations, including IRS nondiscrimination and top-heavy testing.
Tax-Related Matters
ADP calculates withholding taxes on benefit disbursements and files IRS 1099-Rs with federal tax authorities. We also assist with the completion of the annual IRS Form 5500.
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